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Thursday, April 21, 2011

SanDisk Corp. (NASDAQ: SNDK) reported late Thursday that its first quarter profit rose to $224 million, or 92 cents per share, compared to net income of $235 million, or 99 cents per diluted share in the first quarter of fiscal 2010 . On an adjusted basis, the company earned $1.03 per share in the latest quarter. Revenue rose to $1.29 billion from $1.09 billion. Analysts, on average, expected the company to report earnings of 99 cents per share on revenue of $1.26 billion.

"Our embedded mobile business drove growth in the first quarter, and SanDisk executed well to deliver strong business results," said Sanjay Mehrotra, President and CEO. "We have been actively managing our supply chain following the recent events in Japan and believe we remain on track to deliver a strong 2011 for SanDisk."

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